The apartment sector is a bright spot in the overall housing market leading the industry’s path to recovery. ... “[W]e are forecasting construction of 208,000 multifamily residences in 2012 ...” said Sharon Dworkin Bell, NAHB senior vice president for multifamily and 50+ housing.

There were 167,400 5+ unit starts in 2011, and only 130,500 completions. 2012 will be another strong year. Economist Tom Lawler is forecasting 225,000 multifamily starts this year.

The residential remodeling market will continue to experience measured growth in 2012 after the Remodeling Market Index (RMI) rose to a five year-high at the end of 2011, according to panelists at a press conference held today at the National Association of Home Builders (NAHB) International Builders' Show (IBS) in Orlando, Fla.
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“Spending on improvements to owner-occupied housing is nearly equal to that of new residential construction,” said Paul Emrath, NAHB’s vice president for survey and housing policy research. “NAHB predicts that residential remodeling will rise 8.9 percent in 2012.”